Former Drive-In Restaurant
For Sale
Contact for pricing
1300 W Pioneer Dr, Irving, TX
Freestanding drive-in restaurant with ample parking and dual drive access.
Property Size1,704 SF
Lot Size0.99 Acres
Price / SF$468.90
Days on Market412
Property Features for 1300 W Pioneer Dr
General Information
Standard status
Active
Size
1,704 SF
Lot size
0.99 Acres
Property subtype
RETAIL
Properties For Sale
at 1300 W Pioneer Dr Contact us- Floor
- Bldg
- Size
- 1,704 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
1300 W Pioneer Dr
Listing Agency:
KARE - Investment Sales & Leasing
(469) 471-6413
Listed By:
Karan Aulakh · License #0731346
(469) 471-6413
Source:
Moodyscre
Added: Jul 9, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KARE - Investment Sales & Leasing
Investment Insights
Based on property information with market context.
This is a former Sonic Drive-In situated on approximately 0.983 acres. The freestanding building is approximately 1,704 square feet and features a drive-through. The property has C-OU-2 Commercial Outdoor Zoning with spot zoning for QSR use. It offers ample parking and dual drive access. The building has a brand-new roof, electrical system, and HVAC, all installed in 2025. The interior has been fully cleaned and is move-in ready. The property benefits from excellent visibility and access along W Pioneer Drive and is located minutes from SH-183, SH-114, I-635, and DFW Airport. The property is suitable for drive-through restaurants and other retail purposes.
Key Highlights
- Move‑in ready freestanding building with brand‑new roof, electrical, and HVAC (2025).
- Excellent visibility and access along W Pioneer Drive.
- C‑OU‑2 commercial outdoor zoning with spot zoning for QSR use.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,346
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$586,920
$586.9K
Cap Rate 7%
$419,229
$419.2K
Cap Rate 9%
$326,067
$326.1K
Market Conditions
NOI Build-Up for 1,704 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.1K $24.12/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$39.1K $22.96/SF
− OpEx
−$9.8K −$5.74/SF
NOI
$29.3K $17.22/SF
Area
Irving, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$586,920
Cap Rate 7%
$419,229
Cap Rate 9%
$326,067
Alternative Uses
Best Use
Specialty Retail
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 3.67%
Second Best
Retail
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$437.0K
$382.4K – $509.8K
NOI $30,590 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding drive-in restaurant with ample parking and dual drive access.
Where is this drive through restaurant located?
The property is located at 1300 W Pioneer Dr Irving, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Move‑in ready freestanding building with brand‑new roof, electrical, and HVAC (2025).; Excellent visibility and access along W Pioneer Drive.; C‑OU‑2 commercial outdoor zoning with spot zoning for QSR use.
